Foreclosure.com: Inventory Rises 3.5%

The nationwide inventory of foreclosed residential properties rose 3.5% in January, to 95,073, according to Foreclosure.com, an online foreclosure listing service based in Boca Raton, Fla.There were 23,982 new foreclosed residential properties listed in the United States in January, the company reported. "The ballooning inventory of available foreclosure properties should be an area of concern among lending institutions," said Brad Geisen, president and chief executive officer of Foreclosure.com. "It puts pressure on REO departments to reduce this expanding inventory." The company can be found online at http://www.foreclosure.com.